Landlord insurance does not protect against damage, but it protects the financial consequences. Anyone renting a property should adequately secure this valuable investment.
Insurers can protect landlord from financial losses if their home or apartment is damaged. However, landlord insurance is also important in the event that other people or their property is damaged in the house. In addition, there are still some policies that protect landlords against particular risks.

Dangers to the building

A storm covers the roof, a pipebreak floods the rooms, lightning strike causes a fire - no one can completely rule out such damage. A connected residential building insurance is used for damage caused by fire, storm, hail or tap water. It is one of the indispensable insurances for landlords. In vulnerable areas the protection of elementary damage should be extended by landslides or floods. If the property is an owner-occupied property, the owner-controlled community concludes the residential building insurance. Landlord pays pro rata. The necessary sum is calculated according to the value of the house.

If the landlord is liable

A loose tile falls from the roof to a parking car or a visitor crashes in winter on the uncleared walkway in front of the house. If non-participants are harmed, landlord insurance protects the landlord against the consequential costs. Anyone using their own property is protected in this case by the private liability insurance which every citizen should have. For rented home ownership you need a home and landlord liability insurance.

Insurance for real estate owners as landlords

For landlords who rent their house or apartment, additional risks arise from the lease. The maintenance of a property costs a lot of money, which is why rental loss is a long-term fear of a landlord feared scenario. However, whether insurance is worthwhile for the landlord in these cases, they must decide in individual cases. Because: Each additional insurance premium charges the account. Anyone wishing to conclude a rent loss insurance that pays out if housing is temporarily uninhabitable due to fire, pipe break or storm should first check its residential building insurance. Usually rental losses are covered for a period of up to twelve months.